Vikran Engineering to Acquire 49 Percent Stake in NOPL Solar Projects for INR 4.9 Crore

Vikran Engineering Ltd. has entered into a Share Purchase Agreement (SPA) to acquire a 49 percent equity stake in NOPL Solar Projects Pvt. Ltd. for an aggregate consideration of INR 4.9 crore.

The acquisition aligns with the company’s strategic objective to strengthen its presence in the renewable energy sector, particularly solar power generation. NOPL Solar Projects, incorporated in May 2024 with a paid-up capital of INR 1 lakh, is engaged in the development, operation, and maintenance of solar power projects.

NOPL Solar Projects is associated with a 969 MW (AC) grid-connected solar project under Component C of the PM-KUSUM scheme in Maharashtra, highlighting its role in decentralised renewable energy expansion.

The deal is expected to be completed within one month, subject to customary conditions precedent. The move is expected to support Vikran Engineering’s diversification strategy and long-term growth by enabling participation in large-scale solar initiatives.